OPEN-SOURCE SCRIPT
Güncellendi Rolling Dual Value Area
Rolling Dual Value Area (68.2% / 95.4%)
WHAT IT DOES
Builds a rolling volume profile over a trailing window of the last N bars and
draws two nested value areas around the Point of Control (POC):
- Inner area: 68.2% of the window's volume by default
- Outer area: 95.4% of the window's volume by default
The POC is plotted as a single line; the inner and outer Value Area High/Low
boundaries are drawn as two nested bands. Because the profile is recomputed on
every bar, the POC, VAH and VAL appear as continuous trajectories rather than a
single static profile.
WHY 68.2% AND 95.4%
The conventional Market Profile value area uses 70%, which is a rounding of
68.2% - the share of a normal distribution within +/-1 standard deviation.
95.4% is the +/-2 standard deviation share. These two thresholds give a "1
sigma" inner zone and a "2 sigma" outer zone expressed as volume coverage. Both
are inputs, so you can set them back to 70/95 or to any values you prefer.
Important: this is a coverage-threshold band, not a parametric standard-
deviation band. It is centered on the mode (the POC) and expands toward the
heavier side, so it is generally asymmetric and reflects the actual shape of the
distribution. This is a different object from a VWAP standard-deviation band,
which is centered on the volume-weighted mean and is symmetric. The two coincide
only when the distribution is close to normal.
HOW IT IS CALCULATED
1. The high-low range of the last N bars is divided into equal price bins.
2. Each bar's volume is spread evenly across the bins its high-low range covers.
3. The bin with the most volume is the POC.
4. Starting from the POC, the area expands one bin at a time toward the adjacent
side holding more volume (classic asymmetric, greedy Market Profile
expansion). A single continuous expansion records the inner boundaries when
cumulative volume first reaches the inner target, then continues to the outer
target, so the outer area always contains the inner area and both follow one
expansion path.
Note: expansion advances one bin per step. The original CBOT method compares
pairs of bins per step; results are nearly identical and may differ by a bin in
edge cases. Because volume is added in discrete bins, the captured coverage
lands at or slightly above the chosen percentage.
HOW TO USE
- The bands mark where trading has concentrated over the lookback. Inner-band
edges often act as nearer support/resistance; the outer band marks
statistically extended zones.
- The POC is the heaviest-traded price in the window and tends to act as a
magnet.
- Watching
WHAT IT DOES
Builds a rolling volume profile over a trailing window of the last N bars and
draws two nested value areas around the Point of Control (POC):
- Inner area: 68.2% of the window's volume by default
- Outer area: 95.4% of the window's volume by default
The POC is plotted as a single line; the inner and outer Value Area High/Low
boundaries are drawn as two nested bands. Because the profile is recomputed on
every bar, the POC, VAH and VAL appear as continuous trajectories rather than a
single static profile.
WHY 68.2% AND 95.4%
The conventional Market Profile value area uses 70%, which is a rounding of
68.2% - the share of a normal distribution within +/-1 standard deviation.
95.4% is the +/-2 standard deviation share. These two thresholds give a "1
sigma" inner zone and a "2 sigma" outer zone expressed as volume coverage. Both
are inputs, so you can set them back to 70/95 or to any values you prefer.
Important: this is a coverage-threshold band, not a parametric standard-
deviation band. It is centered on the mode (the POC) and expands toward the
heavier side, so it is generally asymmetric and reflects the actual shape of the
distribution. This is a different object from a VWAP standard-deviation band,
which is centered on the volume-weighted mean and is symmetric. The two coincide
only when the distribution is close to normal.
HOW IT IS CALCULATED
1. The high-low range of the last N bars is divided into equal price bins.
2. Each bar's volume is spread evenly across the bins its high-low range covers.
3. The bin with the most volume is the POC.
4. Starting from the POC, the area expands one bin at a time toward the adjacent
side holding more volume (classic asymmetric, greedy Market Profile
expansion). A single continuous expansion records the inner boundaries when
cumulative volume first reaches the inner target, then continues to the outer
target, so the outer area always contains the inner area and both follow one
expansion path.
Note: expansion advances one bin per step. The original CBOT method compares
pairs of bins per step; results are nearly identical and may differ by a bin in
edge cases. Because volume is added in discrete bins, the captured coverage
lands at or slightly above the chosen percentage.
HOW TO USE
- The bands mark where trading has concentrated over the lookback. Inner-band
edges often act as nearer support/resistance; the outer band marks
statistically extended zones.
- The POC is the heaviest-traded price in the window and tends to act as a
magnet.
- Watching
Sürüm Notları
Description (English — paste into TradingView)A rolling volume-profile base with a clean layer of price-action terrain on top, designed for the daily chart.
The base — what the market accepts
A rolling dual value area is built over the lookback window (default 20 bars). The Point of Control (POC) marks the most-traded, most-accepted price, and two shaded bands cover 68.2% and 95.4% of the volume around it. Price inside the bands is in balance; price outside is searching for a new one. This rests on auction-market theory: volume measures acceptance, not direction.
The terrain — where price tends to react
On top of the value area, the indicator marks the levels and zones price action tends to revisit:
Fair Value Gaps (FVG): three-bar imbalances, drawn as boxes at the bar where they formed and extended right; removed (or faded) once price mitigates them.
Order Blocks (OB): the last opposite candle before an ATR-sized displacement, drawn as outlined zones.
Liquidity pools (BSL / SSL): swing highs/lows where stops tend to rest, drawn as lines and removed when swept. Sweep can be defined as a pure breakout or the stricter wick-pierce-and-close-back (the classic stop-hunt).
Market structure: BOS (continuation) and CHoCH (change of character) labels at confirmed swing breaks.
Equal highs / lows (EQH / EQL): consecutive swings within tolerance.
Previous-day range, premium / discount shading, an OTE retracement zone, and optional round numbers.
Where several land at the same price, that confluence is the signal.
Design notes
All inputs are pure price/volume — no external data feeds.
Detections run on closed bars and are stable; the current bar updates intrabar and settles at the close.
The window counts bars, so it is built for the daily chart, where the lookback reads as days. Terrain older than the age cap is dropped so it never piles up.
Everything is toggleable, with separate colour and count limits per layer to keep the chart readable.
Provenance / honesty
The value area and volume nodes rest on auction-market theory (acceptance, not direction). Fair Value Gaps, Order Blocks, BOS/CHoCH and OTE are ICT / Smart-Money-Concepts practitioner constructs (popularised by Michael Huddleston) and are not peer-reviewed. The underlying intuition — that thin, imbalanced zones tend to be revisited — has academic grounding (Kyle 1985 on price impact; Amihud 2002 on illiquidity), but the specific gap-fill and order-block rules do not. Treat every terrain element as a heuristic tendency, not a rule.
This tool maps structure onto your chart for your own analysis. It is not financial advice and makes no claim about future performance.
Sürüm Notları
A rolling volume value area. Over the last N bars it builds a volume-by-price profile, finds the POC (the most-traded price), then expands outward from the POC in both directions until the band has captured a chosen inner and outer percentage of total volume. The defaults — 68.2% and 95.4% — echo the one- and two-sigma coverage of a normal distribution, so the inner band marks where most of the recent business was done and the outer band marks the edge of accepted price.Unlike a fixed-session profile, the window is a rolling count of bars, so it recomputes on every bar and the bands drift with the market. The lookback counts bars rather than calendar time, so it scales with the chart: on a daily chart 20 bars is roughly a month, 50 a quarter, 5 a week.
Sürüm Notları
A rolling volume value area. Over the last N bars it builds a volume-by-price profile, finds the POC (the most-traded price), then expands outward from the POC in both directions until the band has captured a chosen inner and outer percentage of total volume. The defaults — 68.2% and 95.4% — echo the one- and two-sigma coverage of a normal distribution, so the inner band marks where most of the recent business was done and the outer band marks the edge of accepted price.Unlike a fixed-session profile, the window is a rolling count of bars, so it recomputes on every bar and the bands drift with the market. The lookback counts bars rather than calendar time, so it scales with the chart: on a daily chart 20 bars is roughly a month, 50 a quarter, 5 a week.
What it draws
POC: the most-traded price over the window.
Inner band (default 68.2%): the value area where most recent volume traded — a rough "fair value" zone.
Outer band (default 95.4%, optional): the wider acceptance range; its edges are where price has been seen but not accepted.
Shaded fills between the bands so the structure reads at a glance.
How traders use a value area
Value areas come from auction-market theory: they describe where the market has recently accepted price, not which way it will go next. Common readings are: price inside the value area is in balance; the POC often acts as a magnet on pullbacks; the band edges act as soft support/resistance; and a move that leaves the value area and holds outside it suggests acceptance of a new range. These are tendencies for context, not signals.
Inputs
Lookback (bars), price bins, inner %, outer %, show/hide the outer band, and colours for the POC and value area.
Notes and honesty
This is the value-area drawing on its own. Earlier versions layered terrain / Smart-Money-Concepts overlays (fair value gaps, order blocks, liquidity, market structure, premium/discount, OTE) on top; those have been removed here to keep a single, transparent volume tool.
The value area rests on auction-market theory (acceptance, not direction). It is descriptive context, not a forecast and not financial advice. Because it profiles a rolling window of bars, it is designed for the daily chart but will run on any timeframe — just remember the lookback is in bars, so its calendar length changes with the chart.
Açık kaynak kodlu komut dosyası
Gerçek TradingView ruhuyla, bu komut dosyasının mimarı, yatırımcıların işlevselliğini inceleyip doğrulayabilmesi için onu açık kaynaklı hale getirdi. Yazarı tebrik ederiz! Ücretsiz olarak kullanabilseniz de, kodu yeniden yayınlamanın Topluluk Kurallarımıza tabi olduğunu unutmayın.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Açık kaynak kodlu komut dosyası
Gerçek TradingView ruhuyla, bu komut dosyasının mimarı, yatırımcıların işlevselliğini inceleyip doğrulayabilmesi için onu açık kaynaklı hale getirdi. Yazarı tebrik ederiz! Ücretsiz olarak kullanabilseniz de, kodu yeniden yayınlamanın Topluluk Kurallarımıza tabi olduğunu unutmayın.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.